A Carbon Tracker report estimates 60% of the world’s technical solar potential – enough to produce 3.5 exawatt-hours of clean electricity per year – would already be cheaper than fossil fuel if installed. Of the remainder, most would be in sub-Saharan Africa, a region which has the potential to be a global solar and wind powerhouse.
In an exclusive interview held during the meeting “Experience of Uruguay: Business Hub of Latin America”, organized by the Uruguayan Embassy in Berlin, the country’s Minister of Energy, Guillermo Moncecchi, spoke about the future of solar in the country’s energy mix, while also recognizing its great potential by virtue of the fall in panel prices. Although its share is currently very limited and there are no prospects for large growth in the short term, solar power currently has good opportunities for development in distributed generation, as electricity prices are constantly rising. As for large-scale projects, new auctions could be held again in the coming years, but not immediately. The country, however, is still listed among the countries with the highest share of renewables in the world, with a precentage close to 98%.
The sixth edition of Intersolar South America in Sao Paulo has showed unequivocally that both international and Brazilian players firmly believe in the big potential of the Brazilian solar market, despite the current political uncertainty and usual economic challenges. Overall, the event was larger and of a higher quality than last year, while in the absence of future dates for new large-scale solar auctions, and stable conditions for private PPAs, DG is emerging as the market’s main driver.
The Natelu solar plant was built near Mercedes, in the Uruguayan department of Soriano. The project was financed by the Inter-American Development Bank (IDB) and the Canadian Climate Fund (C2F).
Net income hit $3.3 million in the 12 months to the end of December, from a net loss of $1.6 million a year earlier, although the Hong Kong-based PV independent power producer recorded a net loss of $8.7 million in the fourth quarter, from $7.4 million in the final three months of 2015.
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